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Committee advances affordable-housing funding update and approves $4.13M land-acquisition loan for 5 Points
Summary
Staff updated council on the affordable housing funding policy and the housing-trust-fund bond; committee approved staff's $4,130,000 short-term land-acquisition loan recommendation to support a mixed-income project at 5 Points, passing the motion 4—1.
Rebecca Heffner, director of Housing and Neighborhood Services, briefed the committee on the city's affordable-housing funding policy and the status of the $100 million 2024 housing bond. She said the city typically receives about $13,000,000 annually in federal housing allocations across CDBG, HOME, Emergency Solutions, and HOPWA programs and described the Housing Trust Fund (HTF) schedule and remaining bond balance of about $46.6 million.
Heffner framed the policy's three overarching goals—residential…
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